GBP/JPY Technical Analysis: Rebound fades and a test of 145.70 looms

• GBP/JPY moving sideways after hitting yesterday at 145.44, a 3-week low.  
• The pound dropped back below the 20-SMA in 4-hour charts and also under 146.05/15, removing the positive momentum.  
• A slide below the 145.70 area would expose weekly lows near 145.50 and increase the negative tone.  
• A recovery back above 146.10, would signal more intraday gains ahead of the Asian session.  
• Pound set to remain limited while unable to move significantly away from 146.30.  

GBP/JPY 15-minute chart

Spot rate:               145.89
Relative change:      -0.18%      
High:                      146.49
Low:                       145.75

Trend:                    Neutral/Bearish

Resistance 1:        146.65
Resistance 2:        147.05
Resistance 3:        147.90

Support 1:             145.40
Support 2:             144.20
Support 3:             143.20